No, he's saying 'We are but human, and frail', it's a refutation of the 'Ye are as gods and might as well get good at it' school of thought ... he's exactly correct, our species is discovering something it cannot do, this is a great post, in recommending it i pushed the button quite firmly -
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Niall Ferguson on CBC radio today, speaking from China, says among other things that there is nothing keynesian about the current mess, JMK was writing about an entirely different world where no one would have dreamed of so much debt built up by continuous running of deficits both public and private, the man's idea was that you invent a little money out of thin air to lift an economy out of hard times, then pay it back in the good times ... and also made the point that this would work only in closed economies - if open to the path, stimulus cash would flow to more solid-looking homes than what you were trying to perk up ... for instance to gold and other hard assets in our case du jour
Fwiw, i agree with Jim McM and vt that the metal itself should consolidate for a bit, chart has gotten a bit steep, something of a pullback will healthify it up ... it could healthify from 2000 just as well, take more time basing after is all, doesn't matter to me, my metal is for the long run, miners stocks too, just switch the latter around somewhat - hey how about that fvi.to, you PM-skeptical twits, lol |
